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Wealth Management
- Capital Investment Entrant Scheme (CIES)

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Securities

Why trade shares with CITIC Securities Wealth Management (HK)?

Proprietary Research Reports

Make full use of the research strength of CITICS Securities plus CITIC CLSA. We provide investment advices and exclusive research reports on listed companies in China-HK Stock Connect, US stocks, Asian stocks, global ETFs and commodities and to provide useful information on stock trading prices and stock picks which allow you to stay on top of market trends.

Superior Trading Platform

Whether you are beginner or advanced active trader, our trading system is easy to use. With its powerful analysis tools provide access to live charts with 50+ technical indicators, screener tools and trade signals. Investors can analyse the financial performance in detail with dedicated dashboards for your P/L and returns, and download historical reports for bookkeeping purposes.

Ongoing Support

Have investment related questions? Investment Advisory Services experts are here for you! A Product and Investment Solutions Hotline (852) 2237 9250 is set up for clients to contact and interact with our Product and Investment Solutions team via telephone or email wminvestmentsolutions@citics.com.hk during business hours* on every Hong Kong trading day. CITIC Securities Wealth Management (HK) also offers a wide range of educational seminars and forums on selected topics of interest to clients.

*Product and Investment Solutions Hotline service hours are from Monday to Friday, 10 am to 5 pm (except public holidays).

Introduction

CITIC Securities Wealth Management (HK) provides worldwide securities brokerage services covering markets in Hong Kong, Shanghai Stock Connect, Shenzhen Stock Connect, China B Shares, Japan, Singapore, Philippines, Thailand, Malaysia, Australia, Germany, United Kingdom and the United States.

Hong Kong Market

History

The Hong Kong stock market was established in 1866. After over 100 years of development, the market mechanism is very mature and standardised.

HK shares are stocks listed on the Main Board or the Growth Enterprise Market (GEM) Board of Hong Kong Exchanges and Clearing Limited (HKEx), which is the market operator of the securities trading and clearing systems. HK shares can be categorised into blue chips, red chips, H shares and other stocks.

In addition to stocks, HKEx's cash market also provides the trading for derivative warrants, exchange-traded funds (ETFs), real estate investment trusts (REITs), equity-linked investment, callable bull/bear contracts (CBBCs), debt securities and inline warrants. HKEx is regulated by the Securities and Futures Commission.

Trading Hours

Trading hours of Hong Kong stocks market are as follows:

Trading Hours from Monday to Friday (excluding public holidays)	Full Day	Half Day	Settlement Currency and Settlement Day(s)
Auction Session			HK$, US$ or CNY$ T+2
Pre-opening Session	9:00 a.m. - 9:30 a.m.	9:00 a.m. - 9:30 a.m.
Continuous Trading Session
Morning Session	9:30 a.m. - 12:00 noon	9:30 a.m. - 12:00 noon
Extended Morning Session	12:00 noon - 1:00 p.m.	Not applicable
Afternoon Session	1:00 p.m. - 4:00 p.m.	Not applicable
Auction Session
Closing Auction Session	4:00 p.m. to a random closing between 4:08 p.m. and 4:10 p.m.	12:00 noon to a random closing between 12:08 p.m. and 12:10 p.m.

Note: There is no Extended Morning Session and Afternoon Session on the eves of Christmas, New Year and Lunar New Year. There will be no Extended Morning Session if there is no Morning Session. Trading on the Hong Kong market may also be suspended during severe weather such as typhoons or black rainstorm.

Trading Rules

Hong Kong stocks are traded at T+0 and settled at T+2. It can be traded multiple times on the same day, and the number of shares traded in each lot is different because of different stocks.

Generally speaking, there is no price limit mechanism in Hong Kong. But when there are abrupt changes, the Volatility Control Mechanism (VCM) will cool the market for five minutes (Cooling–off Period) that these stocks are traded in limited price. For constituent stocks of Hang Seng Index, Hang Seng China Enterprises Index and Hang Seng Composite LargeCap Index, the triggering threshold is at ± 10%. And for constituent stocks of Hang Seng Composite MidCap and SmallCap Indexes, the triggering thresholds are at ± 15 and ± 20% respectively. (For each VCM instrument, there will be a maximum of one VCM trigger in each trading session (Morning Session and Afternoon Session are counted as two separate trading sessions). Normal trading without restriction will resume on the VCM-triggered instrument after the cooling-off period. There will not be any VCM monitoring on the VCM-triggered instrument within the same trading session. VCM monitoring is applicable to continuous trading session (CTS), excluding the first 15 minutes of the morning and afternoon trading session, the last 20 minutes of the afternoon trading session).

Order Types: At-auction Order, At-auction Limit Order, Enhanced Limit Order and Special Limit Order.

Description of Order Type
Order Type	Trading Hours	Remarks
At-auction Order	9:00 a.m. to a random matching period end between 9:20 a.m. and 9:22 a.m. 4:00 p.m. to a random closing between 4:08 p.m. and 4:10 p.m.	For Pre-opening Session, there is a two-stage price limits. For 1^st stage, the order price inputted must within ±15% of the previous closing price. In pre-defined scenarios (absence of previous closing price), 9-times price limit applies. For 2^nd stage, buy orders’ upper limit and sell orders’ lower limit will be further limited. After the end of the Pre-opening Session, outstanding at-auction orders will be cancelled. Outstanding at-auction limit orders will be carried forward to the Continuous Trading Session and treated as limit orders provided that the specified price of that at-auction limit order does not deviate 9 times or more from the nominal price. Such orders will be put in the price queue of the input price. For Closing Auction Session, the order price input into the OTP-C is subject to the two stages price limit. Stage 1 price limit: is applicable to the Order Input Period and is set at ±5 per cent from the Reference Price. Stage 2 price limit is applicable to the No Cancellation Period and Random Closing Period and is set at the highest bid and the lowest ask of the order book at the end of the Order Input Period.
At-auction Limit Order	9:00 a.m. to a random matching period end between 9:20 a.m. and 9:22 a.m. 4:00 p.m. to a random closing between 4:08 p.m. and 4:10 p.m.
Enhanced Limit Order	Continuous Trading Session 9:30 p.m. - 12:00 noon 12:00 noon - 1:00 p.m.(Extended Morning Session) 1:00 p.m. - 4:00 p.m.	An enhanced limit order will allow matching of up to 10 price queues (i.e. the best price queue and up to the 10th queue at 9 spreads away) at a time provided that the traded price is not worse than the input price. The sell order input price cannot be made at a price of 10 spreads (or more) below the current bid price whereas the buy order input price cannot be made at a price of 10 spreads (or more) above the current ask price. Any outstanding enhanced limit order will be treated as a limit order and put in the price queue of the input price.
Special Limit Order		A special limit order will allow matching of up to 10 price queues (i.e. the best price queue and up to the 10th queue at 9 spreads away) at a time provided that the traded price is not worse than the input price. A special limit order has no restriction on the input price as long as the order input price is at or below the best bid price for a sell order or at or above the best ask price for a buy order. Any outstanding special limit order will be cancelled and will not be stored in the OTP-C.

Categories of Hong Kong Stocks Market

The following is a list of exchange traded products provided by our company:

· Stocks

· Stock Options^

· Derivative Warrant

· Exchange Traded Funds (ETF)

· Callable Bull / Bear Contracts (CBBC)

· Bonds (Fixed Income)

· Real Estate Investment Trusts (REIT)

· Inline Warrants

^ Please also refer to separate website page for the introduction in detail.

For other detailed information on these products, please refer to the following links of the Exchange:

https://www.hkex.com.hk/Products/Securities/Equities?sc_lang=en

Issuer information

For the information on specific issuer whose securities are traded in Hong Kong, please refer to HKEX news http://www.hkexnews.hk/

On the HKEX news page, you can enter the Stock Code/Stock Name to access up-to-date offering documents, announcements, results, notices and other information.

Overseas Markets

Trading Hours and Settlement Date

Market	Stock Exchange	Trading Hours (HK Time)	Settlement Currency	Settlement Day(s)
China Connect (Northbound Trading)	Shanghai Stock Exchange Shenzhen Stock Exchange	Morning Session:	CNY	T+1
		9:20a.m. - 11:30 a.m.
China B Shares		Afternoon Session:	Shanghai B Share: USD	T+3
		1:00 p.m. - 3:00 p.m.	Shenzhen B Share: HKD
United States	New York Stock Exchange NASDAQ	Summer:	USD	T+2
		9:30 p.m. - 4:00 a.m.
		Winter:
		10:30 p.m. - 5:00 a.m.
Australia	Australian Stock Exchange	Summer:	AUD	T+2
		7:00 a.m. - 1:00 p.m.
		Winter:
		8:00 a.m. - 2:00 p.m.
United Kingdom	London Stock Exchange	Summer:	EUR	T+2
		3:00 p.m. - 11:30 p.m.	GBP
		Winter:	USD
		4:00 p.m. - 12:30 p.m.
Germany	Deutsche Börse	Summer:	EUR	T+2
		3:00 p.m. - 11:30 p.m.	HKD
		Winter:	USD
		4:00 p.m. - 12:30 p.m.	CHF
Thailand	The Stock Exchange of Thailand	Morning Session:	THB	T+2
		10:55a.m. - 1:30 p.m.
		Afternoon Session:
		3:25 p.m. - 5:30 p.m.
Malaysia	Bursa Malaysia Berhad	Morning Session:	MYR	T+2
		9:00a.m. - 12:30 p.m.
		Afternoon Session:
		2:30 p.m. - 5:00 p.m.
Philippine	Philippines Stock Exchange	Morning Session:	PHP	T+3
		9:30a.m. - 12:00 p.m.
		Afternoon Session:
		1:30 p.m. - 3:30 p.m.
Singapore	Singapore Exchange	9:00 a.m. - 5:00 p.m.	USD	T+2
			SGD
			HKD
Japan	Japan Exchange Group	Morning Session:	JPY	T+2
		8:00 a.m. - 10:30 a.m.
		Afternoon Session:
		11:30 a.m. - 2:00 p.m.

* Please refer to the above following links for more information relating to overseas markets.

Online Trading Reminder

FX issues related to transactions in different markets

With sufficient funds, clients can trade stocks in different markets first and contact account manager for FX arrangements on the same day or the day after. Clients can also communicate with account manager for standing instructions of the same regard.

Online order amendment

· Order amendment is not supported in A-shares markets. Instead, clients need to cancel existing order and input new order.

· For HK and other markets, quantity in the amendment page refers to overall order quantity, including partially filled quantity (if any). And so after the amendment, the order’s new quantity will be the amended quantity minus partial filled quantity (if any).